Ericsson has revealed the person it hopes will replace outgoing Chairman Leif Johansson next year.
Current Electrolux Chairman Ronnie Leten has been put forward by the vendor’s Nomination Committee to replace Johansson, who is not seeking re-election at the company’s AGM in 2018.
Belgian national Leten, who is also a board member at Swedish manufacturing company SKF, spent over 30 years at air compressor-to-vacuum pump multinational Atlas Copco, including a stint as President and CEO from 2009 to 2017.
Johan Forssell, Chairman of Ericsson’s Nomination Committee, said: “Ronnie Leten has a very strong track record when it comes to value creation.
“[He] is a very skilled businessman, technically savvy and strategically versatile.
“Furthermore, he has significant experience from digitalisation of major operations, which will be beneficial for Ericsson’s focused work together with its customers.”
Ericsson also announced that the former head of its Networks arm, Kurt Jofs, has also been tapped to join the board.
Jofs, who is currently the Chairman of the Board at IT provider Tieto, is set to replace Kristin Skogen Lund who like Johansson is not seeking re-election.
Forssell said: “With Jofs’ deep knowledge of and background from the telecom and IT-industry, not least from his previous tenure at Ericsson, we believe that he will contribute complementary skills and experience to Ericsson’s board.
“With these changes, the Nomination Committee believes that the company is given the right conditions for realising its long-term potential.”
Ericsson is looking for new direction as it attempts to get back on track both financially and strategically.
The company is speeding up its cost reduction programme amid falling sales and profits.
Last week, it announced plans to cut 600 jobs in Italy.